Topic: Why we have slow steps about convincing governments to accept bitcoin? (Read 652 times)
April 26, 2021, 01:25:45 PM
Why do we have a slow pace of convincing the government in bitcoin .. the answer may be because, they are not crypto friendly yet, it's not their priority after all, that's why they slowed down bitcoin acceptance, we just need to be patient and wait, because I'm sure they are considering the problem. .and I am very sure in the future they will definitely accept it ..
February 26, 2020, 01:09:11 AM
Govs are hating crypto in general. They want to control it but they cant. I dont think that this will be changed in near future
Well, a small correction about this. Not all government hate cryptos, other countries they allow people to use crypto or Bitcoin which is very common as of now. The only reason why governments slowly step to convince in adapting crypto because they think that it is perhaps harming the banking financial system and people can make fraud on it and or even money laundering. Indeed, those countries that did not prohibit people to use Bitcoin but it's unclear acceptance. Regulations will make Bitcoin become acceptable to the government. 
February 26, 2020, 12:55:37 AM
Probably it's because it's not their focus? Don't expect much on fast acceptance because, I mean why would the government give much attention on cryptocurrency acceptance in their country if they should be promoting their own currency? It's normal for a government to take it slow and in fact we should just be thankful that even if it's a slow progress, they still think of accepting cryptocurrency.
Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
There is nothing surprising. Governments may allow cryptocurrency circulation in their country, but they will never actively support it. Now they are massively working on the issue of their national stable coin. They will maintain their stable coins; they simply do not need a decentralized cryptocurrency. Only under the pressure of people can the government make any concessions with respect to decentralized cryptocurrency.Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
but countries are only afraid of decentralization but i believe that more of them are looking secretly on how crypto may help economy,and sooner might consider adoption.and also we are just 10 years and going so let us not expect that faster outcome ,we need to exceed efforts to help the community and not just looking for profit because in future we are all the one that will benefits from our deeds.
February 26, 2020, 12:45:59 AM
Probably it's because it's not their focus? Don't expect much on fast acceptance because, I mean why would the government give much attention on cryptocurrency acceptance in their country if they should be promoting their own currency? It's normal for a government to take it slow and in fact we should just be thankful that even if it's a slow progress, they still think of accepting cryptocurrency.
Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
There is nothing surprising. Governments may allow cryptocurrency circulation in their country, but they will never actively support it. Now they are massively working on the issue of their national stable coin. They will maintain their stable coins; they simply do not need a decentralized cryptocurrency. Only under the pressure of people can the government make any concessions with respect to decentralized cryptocurrency. Although it's quite questionable since it's Binance that they didn't authorize but it doesn't mean that Malta isn't really a crypto friendly country just because they didn't authorize them to operate. They still have to consider things and they can't just accept and accept everything related to crypto to say that they are crypto friendly.
February 25, 2020, 06:05:27 PM
Yes, it's very impossible to happen since the government is very traditional, they can't easily adapt to the changes in our technology.
I really hate the fact that the government has departments that focuses on science and technology but less attention given to it, and more likely they don't want technology advances in the country.
But when it comes to advance in the military, they adapt it really fast. So weird...
However as good citizens we must follow government regulations. Transparency, which is one of the advantages of cryptocurrency, seems to go backwards with the government, so that makes it quite slow to accept, in my opinion. As long as the government still provides concessions for the use of cryptocurrency as long as it does not interfere with government-controlled economic activities, that alone makes me grateful, at least not completely banned. So we have to really understand the law, which is prohibited and allowed. The government is also open to cryptocurrency because this is an extraordinary technological progress, it's just that most governments are still rethinking the bad side so that some have given certain regulations. I really hate the fact that the government has departments that focuses on science and technology but less attention given to it, and more likely they don't want technology advances in the country.
But when it comes to advance in the military, they adapt it really fast. So weird...
February 24, 2020, 07:59:05 PM
Yes, it's very impossible to happen since the government is very traditional, they can't easily adapt to the changes in our technology.
I really hate the fact that the government has departments that focuses on science and technology but less attention given to it, and more likely they don't want technology advances in the country.
But when it comes to advance in the military, they adapt it really fast. So weird...
I really hate the fact that the government has departments that focuses on science and technology but less attention given to it, and more likely they don't want technology advances in the country.
But when it comes to advance in the military, they adapt it really fast. So weird...
February 24, 2020, 02:45:13 PM
~snip~
It could also be that they just didn't give a single shit about the crypto space until now. People always seem to come up with the most ridiculous conspiracy theories, but in most cases, things aren't like that at all.
I don't think that's even a possibility here. Maybe Binance is one of their highest tax paying companies in their country and they seem to don't care about it? These kinds of things really don't fly under the radar not unless they are pretending to do so. There is still really a big chance that as of right now they just want to steer clear away from Binance when it comes some regulatory problems happen in the near future for them that is why they don't want their country's name in association to this company which is crazy to think because instead of protecting their own money making company they want to cleanse their hands away from it. If things will get worst then this will be a big lost for Malta if they somehow forced Binance to move out from their country to conduct their operations.
February 24, 2020, 10:42:30 AM
Big things take time.
It has been a decade already since the launch of bitcoin yet many countries have still not accepted bitcoin.
It has been a decade already since the launch of bitcoin yet many countries have still not accepted bitcoin.
In 1985, AT&T hired a consulting company to figure out how these new "cell phone thingys" would grow by 2000.
The think tank came back with a figure of 950,000 users. The real total was 109,000,000.
Bitcoin is not growing as fast as other advancements because the technical hurdle is large.
February 24, 2020, 10:37:49 AM
Big things take time.
It has been a decade already since the launch of bitcoin yet many countries have still not accepted bitcoin.
But did that stop bitcoin from growing more ?
Whether or not Binance is operating from Malta or not is a different thing but the governments will have to deal with the crypto situation some day.
Crypto is here to say and the governments will just have to adjust with it by regulating it.
It will take time but it will happen.
It has been a decade already since the launch of bitcoin yet many countries have still not accepted bitcoin.
But did that stop bitcoin from growing more ?
Whether or not Binance is operating from Malta or not is a different thing but the governments will have to deal with the crypto situation some day.
Crypto is here to say and the governments will just have to adjust with it by regulating it.
It will take time but it will happen.
February 24, 2020, 10:24:15 AM
I'm just surprised that the Maltese governmen is only saying it now when Binance is actually opersting fir years now. It just makes me wonder if this is some kind of washing of hands by the government since now the European governing bodies are implementing strict sanctions with their AML procedures.
It could also be that they just didn't give a single shit about the crypto space until now. People always seem to come up with the most ridiculous conspiracy theories, but in most cases, things aren't like that at all.In the end, people should be doing research before using an exchange. Binance's core business model is to operate outside the regulatory field, because that's where most of their profits come from. This is how they became the world's largest exchange by volume and userbase. I don't recall them having done anything else from their .com platform.
Time will tell how their US platform will perform, but I doubt it will challenge Coinbase or Bitstamp in any way.
We, the bitcoin users should take the prominent steps about making the government aware of this bitcoin system. This is the era of social media, which, perhaps is the most dominant media of this time. So, social medias should be used to make the government aware of the advantages of bitcoins.
I think, the governments are already aware about crypto and blockchain. for all we know, they have their own staffs digging this kind of work. crypto industry is already amassing billions of dollars and the numbers are showing in major crypto websites, so i don't think the governments need a lecture on that. they are also aware that there are giant companies integrating blockchain technology within their operations so it is very hard not to notice what is happening in crypto space. i guess, the hard part is from the government's end, how they can have the full control of having crypto in regulation?
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February 24, 2020, 10:14:04 AM
I'm just surprised that the Maltese governmen is only saying it now when Binance is actually opersting fir years now. It just makes me wonder if this is some kind of washing of hands by the government since now the European governing bodies are implementing strict sanctions with their AML procedures.
It could also be that they just didn't give a single shit about the crypto space until now. People always seem to come up with the most ridiculous conspiracy theories, but in most cases, things aren't like that at all.In the end, people should be doing research before using an exchange. Binance's core business model is to operate outside the regulatory field, because that's where most of their profits come from. This is how they became the world's largest exchange by volume and userbase. I don't recall them having done anything else from their .com platform.
Time will tell how their US platform will perform, but I doubt it will challenge Coinbase or Bitstamp in any way.
We, the bitcoin users should take the prominent steps about making the government aware of this bitcoin system. This is the era of social media, which, perhaps is the most dominant media of this time. So, social medias should be used to make the government aware of the advantages of bitcoin.
February 24, 2020, 10:05:57 AM
I think cryptocurrency will eventually have its time because in the following generations, those people who are in charge in the regulation and higher ups in the government will be the new generation when time comes. If only problems like stability of value and a lot of fraudulent actions could be taken care of, Im sure it will be a good start for bitcoin and other coins.
February 24, 2020, 09:00:03 AM
I'm just surprised that the Maltese governmen is only saying it now when Binance is actually opersting fir years now. It just makes me wonder if this is some kind of washing of hands by the government since now the European governing bodies are implementing strict sanctions with their AML procedures.
It could also be that they just didn't give a single shit about the crypto space until now. People always seem to come up with the most ridiculous conspiracy theories, but in most cases, things aren't like that at all.
In the end, people should be doing research before using an exchange. Binance's core business model is to operate outside the regulatory field, because that's where most of their profits come from. This is how they became the world's largest exchange by volume and userbase. I don't recall them having done anything else from their .com platform.
Time will tell how their US platform will perform, but I doubt it will challenge Coinbase or Bitstamp in any way.
February 24, 2020, 08:35:56 AM
Generational gap. Most politicians are old, and think they know all there is to know, new fanged things won't matter to them. Until they get slowly replaced, by people from the generation that DO know Bitcoin, will then slowly gain acceptance.
In fact this is the same problem with many bankers and old fashioned billionaires. Regardless of government acceptance, Bitcoin will work just fine, and people will still use it. For some people it has to be come evident that it is unstoppable, but until they finally realize that, they will still try to oppose it.
You are telling governments to accept a type of money they can no longer manipulate. This is like telling taxi drivers to accept autonomous cars. The young people will happily embrace it while the old drivers start dwindling down until the profession is no more.
Do you remember when photography had to be developed in special shops, dark rooms, etc? Whatever happened to that business? Kodak, Polaroid, etc? (skip the brand being resold and reused by modern companies).
As with many things in technology, something came that made the previous thing obsolete, and a transitional period occurs until the legacy thing is no more.
In fact this is the same problem with many bankers and old fashioned billionaires. Regardless of government acceptance, Bitcoin will work just fine, and people will still use it. For some people it has to be come evident that it is unstoppable, but until they finally realize that, they will still try to oppose it.
You are telling governments to accept a type of money they can no longer manipulate. This is like telling taxi drivers to accept autonomous cars. The young people will happily embrace it while the old drivers start dwindling down until the profession is no more.
Do you remember when photography had to be developed in special shops, dark rooms, etc? Whatever happened to that business? Kodak, Polaroid, etc? (skip the brand being resold and reused by modern companies).
As with many things in technology, something came that made the previous thing obsolete, and a transitional period occurs until the legacy thing is no more.
February 23, 2020, 05:17:08 PM
In my opinion I think that because cryptocurrency typically comes hand in hand with autonomy is very difficult to convince the government how they're going to make a profit out of it.
Plus, having the authorities involved means that some money must get lost along the way to at leat pay for the salary, in part for those who will be overlooking things, and the infrastructure needed for surveillance in general.
Also, it is difficult to make these people think that this is the new way, when the new way is not being inclusive of their usual high-invested involvement.
Plus, having the authorities involved means that some money must get lost along the way to at leat pay for the salary, in part for those who will be overlooking things, and the infrastructure needed for surveillance in general.
Also, it is difficult to make these people think that this is the new way, when the new way is not being inclusive of their usual high-invested involvement.
February 23, 2020, 05:13:41 PM
today I read this shocking news:
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
Binance is not authorized to operate in malta financial regulator says
This means that the history of Malta being friendly with cryptos is far from being true, that is, we are still walking very slowly in relation to convincing governments to accept bitcoin. I wonder how this story will end?
I've always had this believe that hardly any national will fully back and encourage the activities of any cryptocurrency based project. With the corruption level rising across every nation especially the Africa, the full adoption of cryptocurrency will only trigger more fund looting that will leave no traces.
I just hope very soon, governments and large scale organizations will see the better side of blockchain as a disruptive giant tech and implement it's potentials in providing real-life solutions. maybe that way, more Usecases will be rolled up for cryptocurrency rather than the speculative digital assets for taking off profits being perceived about it
February 23, 2020, 04:17:10 PM
I'm just surprised that the Maltese government is only saying it now when Binance is actually operating for years now. It just makes me wonder if this is some kind of washing of hands by the government since now the European governing bodies are implementing strict sanctions with their AML procedures. Aside from that why they haven't apprehend them in the past? They are literally visibly operating under their noses and they haven't done anything about it? With their billion dollar operation and a known CEO at least they somehow did some investigation in the past.
February 23, 2020, 04:05:00 PM
Actually, the governments are afraid for recognising or accepting bitcoin as a legal currency due to Blockchain's technology is so secure so they can't even control the transactions, that is main reason in my opinion, remember that every government prefers using their power on all the people, and it ca. be through a high value of taxes and other multiple ways of expoilation. In addition to that, we feel uncomfortable for using FIAT.
February 23, 2020, 03:08:25 PM
3) When Binance implodes, the fallout will be immense.
snip
so maybe the fallout from something like that wouldn't be so bad. you might be referring to insolvency or exit scamming though, which is obviously different.
I see what I perceive as red flags forming around Binance's ecosystem but, fear not, no Scam Accusation on the way just yet.
It has something of Enron about it.
February 23, 2020, 02:11:12 PM
3) When Binance implodes, the fallout will be immense.
do you foresee that happening soon or something? warning signs?
the interesting thing to ponder is that binance.com is crypto-only. there are 2 situations that come to mind re a government takedown:
-the BTC-E case. the fiat money was supposedly frozen and seized, but their cryptocurrency wallets were untouched. they were able to partially refund users that way, and spin up a new exchange---WEX.nz.
-the 1broker case. 1broker was also crypto-only. they reached an agreement with the USA government and were able to process full refunds to users.
so maybe the fallout from something like that wouldn't be so bad. you might be referring to insolvency or exit scamming though, which is obviously different.
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